#23 - Do We Have a Wedding or Buy a House?

Michael and Tim try to tackle a hard question

Hosted by: Michael Dempsey & Tim Somerville 

Produced by: Hayden McNamee

Music by: Anthony Trim

Transcript

SPEAKER_03 0:00

Do what you have to do to get us out.

SPEAKER_02 0:03

Yes, please do. Well, there's a lot of articles out there of the struggles of today's millennials and uh you know inflation. Hi, I'm Tim Somerville. And I'm Michael Dempsey, and this is Off the Market with Team Somerville.

SPEAKER_03 0:25

I think this is episode 23. 23? That's a good number. Oh, yes, here we go. That number there was there was a movie, I think, called 23. Wasn't that yeah, Jim Carrey, it's real all about the numbers, everything else. It's it's it's it's a little different. It's a little different.

SPEAKER_02 0:38

Well, him, our producer put a side note in that. That's right. And uh I'll have to uh circle back to that.

SPEAKER_03 0:42

Well, you know, when you think of Jim Carrey though, I mean talk about diverse. I mean, he's been in movies from comedies, of course, to dramas, and and again, good old Canadian boy, but anyway.

SPEAKER_02 0:51

Yeah, I thought I I heard a rumor that they might be looking at a new Grinch movie, too. Really? Yeah, and I mean, like, I think all Canada would be like, Well, come on, all right. You know, we know who needs to be in. That's right, that's right. You got it. Okay. Anywho, let's dive right in. I thought we'd kick off with, you know, uh, what is the number one question every real estate professional gets asked?

SPEAKER_03 1:10

What's the market like?

SPEAKER_02 1:11

How's the market? So we just want to give you a quick little update as we like to do from you know every five or six episodes. So our average sale price for residential in St. John is still hovering around 350,000. Yeah, you know, so that it's been pretty steady.

SPEAKER_03 1:25

Well, you sent a report uh to us to the team last week. I think you had it at that time that uh within that month it was about 366. So if anything, it's not going down.

SPEAKER_02 1:36

Well, it's yeah, it's changing every day. And I'm always trying to like I pulled this number this morning, go, you know, there's gonna be a little bit of fluctuation. Now, when it comes to what sellers are getting for their homes, I thought this number would be higher, but as of today, year to date, they're getting 104% of their asking price. Still above, still above. Yeah, I really thought it would be closer to the 108 ish, you know, just because you and I have certainly been battling out on some products. Yes, I want a couple of them. How about you? I want a couple too. Yeah, you know, not as many as we'd like. Yeah, not down for the count. Yeah, we're we're still fighting that. That's right. So, in saying that, like uh Tim said, you know, the market's still moving very quickly. Um, for the most part, we're listing homes, we're getting offer or offers within a week. And uh yeah, I think everyone's working hard to get your home sold. And of course, um, like I said, not everyone as a buyer is winning. Uh, but with every one that we lose, I think is a uh stepping stone to getting the right home.

SPEAKER_03 2:33

Well, and I think you'd agree that buyers, the first offer they write, sometimes they're really not seasoned. So those that get it first or second time, kudos. But some of these buyers, it's their fourth or fifth or tenth time, yeah, and they're either getting frustrated or they become so knowledgeable on how to write the offer that at the end of the day, some of these uh buyers are just saying, do what you have to do to get us that home. And again, we as realtors, again, I mean, we never want anybody to overpay, no, but we want people to also be able to say, Hey, guess what? This house is now our home.

SPEAKER_02 3:07

And if you need to go even ten thousand dollars higher, take that all your amortization periods. It's nothing, it's nothing, it's worth it. Let's let's get let's yeah, let's get it done.

SPEAKER_03 3:16

Yeah, okay. Yeah, so you want me to start? Sure, you start. Okay, yeah, we're just kind of fine. So we're going off the market, on the market. What do you want? Uh defense. Okay. Uh let's start with uh on the market. On the market. Okay. So uh one thing I want to talk about was I've had many clients as of late that what is transpiring is that they're selling investment properties. When they sell the investment properties, the big age old question is wait a moment, how much taxes do I have to pay to sell this? And and that becomes an issue.

SPEAKER_01 3:46

Yeah.

SPEAKER_03 3:46

So when we look at capital gains, which again is a dirty word if you ask me in some ways, we have to make sure that you, the client, understand that if you ask 10 people what your capital gains was going to be on the sale of a property, I bet you'd get 10 different answers. So what Michael and I would like to do is just give you an idea, just um really, you know, baby steps, but you know, just a gradual thought on hey, guess what? If I do sell something, and keep in mind you sell a cottage, you sell anything that's not your primary residence, there's a good chance capital gains is going to be affected. So with investment properties, the biggest question or concern is first of all, how much income are you making on it? Because that could really affect it. But also, how many expenses have you actually put through on your income tax return? So, you know, it's an investment property, I put a new roof on it, I did windows, I did that. Did you claim it all? And that was one of the questions with these people because it's a two-family and they lived in one of the units. So I asked, I said, Hey, guess what? You know, what are you claiming? And uh I said, the kitchen you just did a couple years ago, did you claim that? Well, no, we were told we couldn't do it because it was in our own unit. What I've been advised and taught is that if you own a two-family that you live in, you can claim everything you do on that property of 50% of it. And why is because you're in 50% of the building. If it's a four-unit and you live in it, theoretically, you can claim 75% of it. So it's all based on the percentages, based on again, how many units on a single family, again, primary residence, one of the reasons, if you do work on it, no, you cannot claim it. So just think of it that way. The percentages really matter. Now, other than that, um, how usually it's determined is sometimes what you pay for it and then what you sell it for, they will take that price differential. So I bought it for 180, I'm selling it for 280. There's a hundred thousand dollar difference there. You can only be taxed for 50% of the difference. Okay, so if that's 100, now I'm down to 50. Now, what you have to do is you have to look at your marginal federal and provincial tax rates. So maybe um through my income tax, I'm taxed at 40%. So now that 50,000 just became 20,000. Okay. Now, how do you get that number down? Well, again, if you have claimed everything on it, theoretically you've gained those tax write-offs throughout the year. So at some point, yes, you're going to have to pay for that. But if you haven't, you can actually offset that amount so long as, of course, you have the receipts and everything else that goes with it. Now, I've seen people do it without the receipts. This is how much we have. The biggest concern, of course, is if you get audited, well, hey, guess what? You know, you're kind of, you know, you know, you're you're in a boat without a paddle, that's for sure. And why is because of course proof is always in the pudding, right? So if you have the receipt, it's even better. Goodness, hold on to those receipts. Yes, please do. Um, but remember that now in in our country, we have to report all sales. Now, keep in mind that's not just real estate. There's also investments, too. So, you know, if you're selling any stock, you're supposed to report that on your income tax, right? Any sale of stock or real estate is to be, I think it's called um, I think it's called like a schedule three. So if there's a schedule three that all of that will occur. And then, of course, what I recommend is if you sell anything like that, the quicker that you can take that money and reinvest, there's a good chance that again, capital gains can be diverted because theoretically is no longer a profit. You put it back into another capital, uh, you know, uh piece of capital. Yeah. Now, capital loss is very important. So, again, what you want to do is is again, is if by any chance you have done some work on a building, great. If you haven't claimed it, great, you know, because now, of course, that can offset it. But we've seen people sell properties for less than what they have into it. And so, again, keep in mind that the capital loss, you can of course offset your income tax or you know what you're being charged. In fact, that you can actually um, you know, it can be uh forwarded onto coming years. So, so keep in mind that even if you've taken a great loss, you can take a percentage of it this year and so much for next. And the one thing to keep in mind is always, again, if it's your principal residence, understand that just because you live in a unit doesn't mean you can't claim something. There definitely is, if it's in a two, three, or six-unit building, the ability to do that. But the reinvest is what I really want to talk to you about. Yeah, Michael and I we sell many multis. In fact, we have a six-unit coming uptown, need some work. So, of course, you're going to put some work back into it, some you know, reinvest in the property. And hopefully, if you own it long enough, that amount you'll have claimed over the years. And then if you do sell in five or ten years, you'll have to remember your first three to five years that you put 40,000, 60, whatever, $80,000 back into that building over those years. You probably use those, of course, to get the tax deductions. So too many times they hear, well, I have to pay this. Yes, but you deducted this much over the last few years. So I know they get you one way or the other, yeah, but taxes are taxes. And so just make sure that again you understand that my biggest thing is again, you could talk to five or ten people, they probably all give you a different number. Make sure that you have the right information before you actually do write that check to the government.

SPEAKER_02 9:54

Now, Tim is uh personally uh bought and sold uh several multis, yes, like that. So to the new investor out there, they're just getting started. I think a lot of them are attracted to the duplex model because they think, you know, I'll live in one and rent out the other. And don't get me wrong, that's a great plan. But what is your advice? What is the ideal property for someone to invest in as a new, you know, a new person that they're not gonna live in? Okay, because we've talked about this before.

SPEAKER_03 10:24

100% like that. Oh, yeah, I know where you're going. So usually your three and four unit is the sweet spot. Okay. Um, after four, there's very few institutions, one in our area, that will do up to six units as a residential mortgage. So when we look at expenses, but three and four is definitely the sweet spot. The other thing to keep in mind is that if you are looking, you know, to invest in a property that's a three or four unit building, the other thing to keep in mind as well is that when we look at our expenses, if you have a single that you're renting out or a two, the expenses can be high enough that guess what, it just won't make it viable. Right? So you agree?

SPEAKER_02 11:03

Yeah, I totally three and four units? Yeah, I knew your answer, and that's why. Yeah, I know. I kind of baited. Yeah, I've right in there. I loved it. I knew that one. Great advice for the listeners.

SPEAKER_03 11:11

Yes, okay, good, good, good. So, so again, keep in mind capital gains, yes, it's somewhat of a scary word, but at the end of the day, it's something that you just really have to understand. It it's part of the equation. Yeah, and the more information you know, the better. But just make sure that again, you know, I'm not saying that you can get away with not paying anything, but you would be surprised there are many different ways to at least look at that number and bring it down to what I would say is reasonable.

SPEAKER_02 11:40

Great information. Okay, thank you for sharing. We're gonna stay on the market, yeah. You on the market, keeping it real estate. So I wanted to bring up uh a survey that Royal Page Canada had recently put out. And the survey was mortgage before marriage. Question mark, mortgage before marriage, okay. Mortgage before marriage. And so they're asking, are Canadians prior prioritizing home ownership over wedding bells or wedding celebrations? Okay. So it has some pretty cool questions, and I thought I'd share it with you. So 82% of those who responded stated they would scale back or even forego a wedding to put money towards a down payment. Well now, 82% is a big number, so let's break it down. Of that, 46% said definitely, I would definitely scale back wedding or even forego some crazy, I shouldn't say crazy celebration because the women will hate me for that. But you know, they're gonna scale back, and 36% said maybe. So we're gonna count that. Maybe I'll look into scalar. Oh, yeah. Yeah. So when they asked married people, they said, when thinking back to your wedding, over 55% of the married respondents said they definitely would have foregone or significantly scaled back to help put uh money towards a down payment or set them up for a little bit better of success. Yeah, success.

SPEAKER_03 13:02

Now tell me something. Did you see the movie Good Fellas? Yes. When they get married and you know they go around with almost like a pillowcase or whatever, and everybody's putting the money in the envelopes and so forth. Yeah, that never happened in my wedding.

SPEAKER_02 13:15

No, no, but a little bit of that is gonna be in this uh this little service. Okay, so uh I'm just gonna pause for a moment and and and talk about according to the Knott's 2025 Global Wedding Report. I wasn't, I don't know what the Knots did. Google it, check it out. Time you know, tie in the wedding guy, tie in the wedding guy. Yeah, they said the average wedding costs approximately 45,000 Canadian. So let's take a time out there. Uh would you ever imagine spending that much? Well, I think I did. You did? Oh my gosh.

SPEAKER_03 13:48

I think we did well.

SPEAKER_01 13:49

I mean, yeah, you know, but again, for the food for other people, and got this, got that, and the roots could be 50 bucks away.

SPEAKER_02 13:58

And is that just the wedding? How about the honeymoon, right? Uh well, they said uh before the honeymoon or the wedding race. Uh again, you know, I'm I'm a minimalist in in some aspects. We we definitely had a great celebration, all our family friends there, but I just think they're 45,000. As a young couple, is a little nutty. Yeah, just a little. But again, you know, uh, I'll always say, you know, the wedding, it's it's it's her day. Yeah. Uh for men, just look nice and show up. So the respondents in British Columbia, they said they're most likely to request financial contributions. There we go. From friends and family. So they're most likely to grab the pillowcase, that's right, say fill her to the brim. Well, that's right. Let's go. Trick or treat. That's right. And Manitoba, Saskatchewan, and Quebec were the least likely to ask for money at the wedding. Really?

SPEAKER_00 14:48

Yeah.

SPEAKER_02 14:48

They just want gifts or you know, they're registered somewhere. I thought that was kind of interesting. Yeah. Didn't mention the maritime. No, didn't mention a little bummed out about that. Yeah. We just throw Kitchenberry. No, I was just thinking the same thing. I was just thinking the same thing. Uh, and so uh again, one of the follow up questions was when asked to identify the biggest or most important purchase in someone's life, what do you think they said? Well, the house. The house.

SPEAKER_03 15:11

Yeah, yeah, the house. So and that's the funny thing is the fact that there is that, but remember, I mean, years past, I mean, people were getting married at 18, yeah, 17, 19. Well, yeah, they had 12 kids in the family, they were working on the farm since they're so the average, it would be nice to know what the average age is now of a wedding. Like, yeah, yes, it could be your second or third. That's a great point. Yeah, you know, and if our producer was in the room, you could lay it up for him. Uh but at the end of the day, what I will tell you is that I believe, of course, yeah, people are getting older now because again, it's it's expensive, maybe they are more career oriented, maybe it's this, maybe it's that. But again, at one point it was just hey, here's your high school sweetheart. You're married at 16, 17, 18. It's just uh couldn't imagine.

SPEAKER_02 15:59

Well, there's a lot of articles out there of the strugglers of today's millennials and uh you know, inflation, again, I know that's a whole other thing.

SPEAKER_03 16:05

Oh, yeah. So again, so good to know. Good to know. Okay, what else you got for me?

SPEAKER_02 16:10

You oh well, I was gonna switch over to off the market. You don't want me to keep blabbing. Yeah, I keep blabbing. We're like, hey, you keep blabbing that. I'll keep blabbing. All right. Well, I'm sticking with the the Canadian theme. Okay, so I wanted to bring up, you know, just have a little bit of fun. Some things that we as Canadians do that we don't necessarily notice, but uh we get away with. Okay, so they talk about the sorry, and I don't know if you ever heard, but there are provinces now that have made it, they've made the change in the law stating that saying the word sorry is not an admission of guilt. Really? Because it's just second, it's just second nature to bump. Oh, right? So bumping into inanimate objects, I could bump into this microphone, and what do we do? We go, oh, sorry about that, Mike. You know? Yeah, see, Mike. Sorry, Mike. Sorry, Mike, sorry, Mike, Mike. Yeah, the double sorry when person A bumps into person B, then they'll say sorry. Yep. Um, then of course, my favorite has always been what they call the Canadian standoff.

SPEAKER_00 17:07

Okay.

SPEAKER_02 17:08

When you approach the door and you know someone's behind you. Oh, yeah. And so you open up the door and they're 10 miles down the road and you're just standing there smiling, you know, it's like, come on. Here we go. Or you're at a uh traffic stop. And of course, you know, we won't get into too much traffic loss, but you come to a stop, right? Yeah, you look over, you say, Go ahead, go ahead. The other guy's like, go ahead, go ahead. Well, the law states the person to your right goes first. That's right. There's been a lot of studies like what if everyone comes to a four-way at the exact same time. Yeah, well, guess what? We're screwed. Yeah, I know. Uh they say forever. Yeah, they say sometimes we can be aggressively passive. Yes. I've heard that before. Yeah, they say when we uh we do get mad, our anger is still wrapped in a blanket of plightness. Okay, you know, so we'll still smile, give you daggers, uh, but we're still very polite about it. Okay. And uh my favorite, of course, is when you're in the grocery store, and I think everyone has said this at one point, they they tuck in their shoulders like this, and they go, Oop, I'm just gonna squeeze past you. You know, they're always just trying to squeeze past you. Yeah, and what happens when they can't get by you? Well, we just look at inanimate objects. Oh, maybe I do need rice around here, and we're just kind of staring at this box because we can't get past that one, and we won't open our mouth to say, I'm just gonna get patched. You know what I mean? We'll just look at something we don't even need. Yep, and then we thank the bus driver. I do all the time. Yeah, you get off the bus and say, thank you. Yes, I do, I'm telling you. That bus driver could have been having a rough day, and he will decide your fate. I'll just say that, right? If he's having a bad day and he wants to take the thing off a bridge, do it. So if you say thank you, you say thank you. Uh the multi-tiered excuse me. You know, oh, sorry, can I just or excuse me, sorry about that. You know, we're always saying sorry. Yeah. Or uh you take the last piece.

SPEAKER_01 19:01

Oh no, wait a minute, wait a minute. Okay, okay, we guess oppression. Let's dive into this.

SPEAKER_03 19:05

Yeah, it is always funny when there's one piece left. And my wife's like that. She will not. In fact, yeah, when we have something, and and I may have had more, there's one piece left, she won't touch it.

SPEAKER_00 19:17

Yeah.

SPEAKER_03 19:17

So it's like, what are you doing? That's yours. Well, no, you go ahead. It's like, okay, well, fine, I'll take it.

SPEAKER_02 19:23

Yeah. But they say some people even cut it in half. Really? Yeah. It's the last piece, they cut it in half and they split it.

SPEAKER_03 19:30

Uh so one of my favorite commercials was the cheese commercial like that. There was a little party going on, and there was uh, you know, one piece of cheese left, and this one guy was there, and little angel came up on his shoulder and says, Oh, make sure you don't take the last piece. Then somebody else came up and had the little devil on his shoulder and said, Take it, take it, take it, take it. And he did. The last piece of cheese, he was taking it. That's some good cheese. Yeah.

SPEAKER_02 19:56

Now you ever notice if we have out-of-towners visiting us, we apologize for the weather? It's almost like we control the dial. We're like, hey, welcome to New Brunswick. Sorry, not a trainer. Why are we apologizing? We can't control that. Okay. Um, have you ever guarded a stranger's laptop? You know, maybe you're at a coffee shop or something, so hey, I just gotta use the bathroom. You know, can you watch my laptop? It happens, right? And for the most part, they just will just like they'll just stop everything.

SPEAKER_03 20:27

I'm gonna give one of those shirts or jackets that say security on the button. Security? That'd be good. That'd be bad. Um, and then the of course can you guard my computer? If you're anywhere else, what are they doing? They're taking the computer and run it.

SPEAKER_02 20:41

Maybe in other countries. Uh, I'll finish up real quick just by saying uh sometimes we overcompliment terrible gift. Uh so in aspects of you know, if we we hate it or we think we'll never use it, we go a little bit too above. So, for example, we'll say, Wow, that is a nice neon green, hand-knitted toaster cozy. Yes, you know, I was just talking to my wife this morning, and I was like, you know what? Our toaster is cold, and now you give me this, this is perfect.

SPEAKER_03 21:10

But you know what? I think I give great gifts. I give great gifts, and meanwhile, other other than to my wife, everything I buy her, I have to make sure the receipt's right there, everything else. Yeah, but I will tell you, some of the gifts that I sometimes get, I have to really be thinking, do these people really know me or not? Right? So always nice when the gift receipt is there, yeah, right?

SPEAKER_02 21:30

Yeah, and you're not going down to clear its bin.

SPEAKER_03 21:33

I don't mind, I don't care if it's five dollars to thirty-five dollars. I can walk into a store and I can find something that I probably would like. Yeah, better than the green cover toaster cozy.

SPEAKER_02 21:44

I mean, I need one, so you know, drop us a comment if uh you have a green toaster cozy. And I'll finish up by saying has anyone ever stepped on your foot and you apologized?

SPEAKER_03 21:56

Well, what happens? I was in the way, yeah, I was in the way. Yeah, here we go. That's right. Okay. So what do you got, Warman? Well, listen, you know what? Uh love it. You know, great way to you know put a smile on your face, even thinking about it. Uh, not to take the smile away, but I was reading an article the other day. It was about a prominent gas station uh that the company is being charged because of a diesel spill. And I was thinking about it because, of course, highway one coming just outside of Quispham sis towards Hampton, going westbound or sorry, going eastbound, going eastbound. Same thing. There was a truck not long ago, diesel spill, and they're still remediating that. And so, again, I don't know if a company got charged for that or not, but they're still working on it. And it's just we talk about the cost of fuel right now, and you and I were talking before the show, and it's sort of like I can't get over the cost of the fuel. Uh my consumption hasn't gone down any. No, and how important fuel is to us on a day-to-day. And we've talked about EVs, it's like, yes, some people love them. We just with our business in particular, they just don't make sense. We put too many kilometers on, our winters are too cold, we're not getting the kilometers. And so at this time, I mean, yes, hybrids are great in many ways because we are saving some, but you know, give me your two cents. What are your thoughts?

SPEAKER_02 23:22

Well, you know me personally, you know, I did invest years ago. I think the last time gas went over two dollars a liter, yeah. I uh I don't know, I had uh the idea that an EV was gonna be my saving grace. And don't get me wrong, for the over two years I had it, it it was great, but you were quick, I was quickly seeing the decline of the battery state. There were several times I was charging down in St. Stephen, uh cold because it's winter.

SPEAKER_03 23:47

You had to go across the border a couple times.

SPEAKER_02 23:49

Yes. So there where we are, there's not a lot of z or the the let the superchargers, right? So when you we're down to Charlotte County, which we're Tim and I are down there at least twice a week, if not more. Um, there's no supercharger down there, only a level two. So you stop at a gas station, and level two would typically take anywhere from five to eight hours to charge your car. So what I found myself doing is you know, I would charge for an hour or maybe even two on that slow charger just to get back to Chris Pam Sys to get rid of the supercharger. You know, it's nice every day uh plugging in at home. Every day you're starting with a you know a fresh battery, which is great, but certainly you saw the decline. All right, I was not getting the mileage I wanted. I found myself on the side of the road, and just like any good salesman, if you're out of the picture, you're not selling. No, and so um in our market, we just can't afford to be sidelined pretty well.

SPEAKER_03 24:46

I agree, yeah. So we were talking about the cost though, cost to crude, yes, yeah.

SPEAKER_02 24:50

So we we look it up, and I mean to refine, and it's gonna vary, but to refine one gallon of crude oil could cost up to 40 cents, so anywhere between 20 and 40 cents, depending on like the thickness, the crude. Yes, what do they call it? Crudeness? I don't know. How terrible it is. But so to think 40 cents for that one gallon, and that does not, of course, include transportation fees, all that good stuff, to end up at a US uh gas station 450 a gallon. Right, you know, and again, the US, like across the globe, we're all competing, like we're having a tough time with prices. And you look at the US at an Irving gas station, I hate to name drop, where they're paying, let's say, 450 a gallon. Yeah, you know, so that's just a little bit over a dollar a liter. But we're paying two dollars a liter.

SPEAKER_03 25:38

Yeah, you do that, multiply the same gas.

SPEAKER_02 25:41

I know, not again, there's taxes, there's a whole thing.

SPEAKER_03 25:44

Yeah, so we get it. Well, and and my concern is that you know, I mentioned about the gas station, I mentioned about the truck, but you look at what's going on over in the Middle East right now and your shifts and investors, and you can imagine. I mean, you know, for those that remember the Exxon Valdez and everything that occurred there, it's just it's it's a product that we all depend on, but has so many ramifications. If anything goes wrong, and we talk about that, so it's just hoping that things will calm down there, settle down a little bit. It's hard because yes, this is the warmer months. Yeah, you know, we really don't want to be like this in the winter.

SPEAKER_02 26:20

No, people want to travel. I find that's kind of like always been the thing, you know, things are more expensive during travel season. Oh, we'll cut your break in the wheat or something.

SPEAKER_03 26:29

It goes down slightly sometimes, and but but we also know that once the price goes to a point, and this is the argument I mentioned earlier to you before the show, is that even at a hundred dollars a barrel, uh sorry, a hundred dollars a gallon or barrel, you're right, a barrel. Yeah, the circumstance is is that these oil companies are still making a ton of money based on the refining, everything else. So we're not doing anything about it right now because, of course, uh, many reasons we're we're just the consumer. What what do what can we do? It's not like we can stop using this. We need it, right? We need it. So so again, just hoping that that comes back to a point because again, everything determines how the consumer does everything from what they eat to what they buy, including houses. And so when we see stuff like this, we come back to the fact that again, we want to make sure that again, we try to keep, you know, you, you know, the audience with relevant information. But at the end of the day, it'd be great to know what everybody thinks about EVs right now, uh, about power consumption, about the diesel. But at the end of the day, it's just a little scary. That's all let us know.

SPEAKER_02 27:38

Yeah, but I tell you, there's a lot of uncertainty out there, but when it comes to real estate, you can be certain that team summer's cut your back.

SPEAKER_00 27:43

That's right. See that little plug I did? Yeah, yeah, I know. Oh, there we go. There we go. So, what do you think? I think that's pretty much all the time we have for today. Okay, yeah.

SPEAKER_02 27:52

Again, I want to thank you for joining Off the Market with Team Summer.

SPEAKER_03 27:56

I'm Michael, I'm Tim, and thanks again for watching Off the Market with Team Summer.